LOAN MODIFICATIONS

At the Law Office of Elias R. Hilal, P.A, we believe that real estate owners should evaluate all of their options as well as be advised of the legal ramifications of their actions before a property is lost to foreclosure.

In some cases, a short sale offers a possible solution. In a short sale, the lender may allow a reduction of the mortgage balance and thus a sale of the property at a price lower than the amount owed to the lender itself. In other situations, after negotiation, the lender may agree to what is referred to as a loan modification. A loan modification allows a revision to the terms of your mortgage, which will lower your payments to an affordable amount that may allow you to save your property.

The Law office of Elias R. Hilal, P.A is very experienced in these proceedings and can evaluate your situation to help you determine which strategy of defense may work best for you. We realize these procedures may be overwhelming; however we will work diligently in reviewing your loan documents to determine the nature and extent of your financial obligations. Further, we will advise you of the consequences of a default under your mortgage, including potential for a deficiency judgment and cancellation of debt income.

If we determine a loan modification is the best solution for you, as professional negotiators, we will negotiate with your lender on your behalf to lower your interest rate and subsequently lower your monthly payments. On the other hand, if a short sale is deemed to be your best solution, we will represent you in the sale of your property, as well as the negotiation with your lender. Further, we can attend closings and act as a closing agent during the sale.

The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide ask us to send you free written information about our qualifications and experience. This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice or the formation of a lawyer/client relationship.